Chemtura to Sell Oleochemical Business to PMC Group

10:49 AM MST | February 4, 2008 | Nancy Seewald

Chemtura says it has entered into an agreement to sell its $175-million/year oleochemical business to PMC Group (Mount Laurel, NJ), for an undisclosed amount. The sale includes a manufacturing plant at Memphis, TN and the transfer of the facility’s 260 employees. The deal is expected to close by the end of the first quarter, pending regulatory approval. Chemtura’s oleochemical business includes fatty acids, fatty esters, pharmaceutical-grade glycerin, glycerol esters, amides, bisamides, stearates, and triglycerides. The business is the only North...